Outcome Capital Congratulates ColonaryConcepts on Sale of Colon Preparation Business Unit to Specialty Pharma Company
Outcome Capital is pleased to announce that its client, ColonaryConcepts, has completed the sale of its proprietary colonoscopy preparation assets to a specialty pharmaceutical company specializing in gastrointestinal health. The acquirer has secured worldwide rights to the unique colon prep technology, which integrates active ingredients into a patient-friendly kit consisting of USP-grade nutritionally balanced bars and beverages to improve the patient experience and compliance. Outcome Capital served as Exclusive Financial Advisor in this transaction. Financial terms were not disclosed.
Herbert Stern, co-founder and CEO of ColonaryConcepts commented: “We believe that our technology will also grow the market for colorectal screening by capturing a large subset of the patient population who forgo screening to avoid the highly unpleasant experience associated with currently marketed colon preparation products. We are delighted that our partners are in a position to integrate our technology into their extensive gastrointestinal channel.”
“Our approach has been enthusiastically supported by a large group of thought-leading gastroenterologists who will be excited to finally prescribe a highly differentiated purgative preparation,” said Dr. Corey Segal, co-founder of ColonaryConcepts. “We are thrilled to take this big step closer to bringing our novel bowel preparation to market. In practice, we hear daily how difficult the current preps are for patients, and we look forward to offering a significantly different experience.”
Dr. Oded Ben-Joseph, Managing Director of Outcome Capital, commented: “This transaction provides external validation for ColonaryConcepts’ innovative platform and will bring a much needed, paradigm-shifting approach for colonoscopy prep to the millions of patients annually who undergo colorectal cancer screening.”
Supported by a large body of intellectual property, ColonaryConcepts continues to expand its platform and pursue other follow-on products in therapeutic indications such as opioid-induced constipation where the development of its novel patient-friendly technology is relevant.